I hoisted a big weight off my shoulders today by finally finishing my taxes. I’d been putting them off because I was unfamiliar and intimidated by what I needed to do about our big fat windfall this year. Thanks to a lot of help last year from my (legal plan) attorneys, we had a $210,000.00 loan forgiven. So, consequently we received a 1099-C from the bank. When I first typed my income information into Turbotax, it said I OWED over $50,000!! I almost screamed! But then I calmed down and called my provider law firm and the tax attorney who called me back told me what form I needed to file and how to file it to exclude all that extra income. Today, I’m happy to report that with good advice from my (legal plan) attorneys, I didn’t have to pay ANY taxes on it and we get a huge refund after all! Saying ‘Thank You’ a thousand times doesn’t even come close to covering it!
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